Speculation is continuing among analysts and in trade publications that eastern Ohio’s Utica Shale play may be firing up again. July numbers for things like drilling rig count and infrastructure investment are expected to be up again.
From the U.S. Energy Information Agency to media outlets like Bloomberg, and Forbes, the word is still “maybe”-- the oil and gas industry depression is ending at least in these shale plays. But a financial advisor where the Utica play started, in Carroll County, says a revival could look a lot different from the boom.
Paul Feezel, who also heads Carroll Concerned Citizens says the potential high profitability that brought the original big-company drillers may not be there this time.
“I think you’re going to end up with more of what I would call the second-tier players. And, they don’t have the big bucks to come back in and always put up the things to allay the concerns of land owners who have a noise complaint or have odors or are having emission problems or having water problems.”
As of last week the rig count in the Utica had gone up to 29; it had been as low as nine last year.
